Sorry no video today. My voice is completely gone!
Start your own blog and share your trades at MeetPips.com
If you haven’t done so already , go check out BabyPips’ newest creation, FreshPips.com !
Freshpips.com delivers to your e-door step the most relevant Forex news and research on the Web. The stories you see on FreshPips are submitted by site members – you and your fellow Forex traders. You then decide what’s “fresh” and what, well, sucks. Top honors – submissions placed on the main page – are given to the stories deemed fresh by the FreshPips.com community as a whole.
Check it out, register, and start submitting cool Forex stories today!
If this is your first time visiting this blog, read this first!
Main Trend
Current Trend= The trend remained down the entire day
Today I only looked for short trades.
News events to watch for today :
- None
Today’s Surf
3:45am EDT- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.4696 with a stop at the most recent swing high at 1.4768. Since I was 46 pips away from the nearest 50 or 00 level, I put my initial target at 1.4650.
Entry: Short at 1.4696
Stop: 1.4768
Initial Target: 1.4650
5:15am EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4650.
Trade Result: +46 pips (NOT INCLUDING SPREAD) R-Multiple: 0.63
News events to watch for tomorrow :
- 10:00am EDT– US CB Consumer Confidence
For a complete list of news events check out our News Section
